Seven more banks fail
With the failure of seven more banks last week, the number of banks seized by the FDIC this year has reached 106. It’s the first time since the depths of the savings-and-loan crisis in 1992 that more than 100 U.S. banks have failed in a single year.
American Banker
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Few companies pay taxes at 35% rate
The federal income tax rate for businesses is 35 percent, but few companies pay that much. After factoring in deductions, loopholes, and special incentives, large businesses on average paid less than 27 percent in 2006. Goldman Sachs, which recently reported a record $3 billion profit, paid an effective tax rate of 0.6 percent last year.
BusinessWeek
Newspaper circulation plunges
Daily newspaper circulation plunged 10.6 percent in the six months from April to September, compared with the year-earlier period. Over the previous six-month stretch, circulation fell 7.1 percent. The
Wall Street Journal, whose circulation rose 0.6 percent to 2 million, was the only large newspaper to report an increase.
Associated Press
Financial literacy among young adults
Fewer than one-third of young adults can calculate interest or define inflation. The young people most likely to be financially literate are college-educated males from families owning stocks and retirement savings.
The New York Times
"Maternity" leave for women without children
In Britain, where women are entitled to 39 weeks of paid leave after giving birth, 74 percent of women in a recent survey said that female workers without children should also be entitled to “maternity” leave.
Forbes.com
